Substantive informal session of the preparatory process for the third International Conference on Financing for Development on “International Public Finance, including Official Development Assistance (ODA)”
12 November 2014, Trusteeship Council Chamber, New York
International solidarity in the form of ODA is important, both to finishing the unfinished business of the MDGs, and to addressing financing needs in a post-2015 development agenda. ODA will be essential, particularly for those countries that have limited capacity to raise public resources domestically, including the least developed countries and other vulnerable countries. In this light, the international community needs to address pertinent questions about mobilization of ODA and its most desirable allocation and effective use beyond 2015.
Complementary to ODA, other forms of international public finance play an important role in providing stable and predictable public finance. They include non-concessional loans, innovative sources of financing and international public financing provided by Southern partners. There is unrealized potential in each of these resources that could be tapped to increase the pool of international public finance for sustainable development.